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Yahoo BusinessJul 12, 2020
Alibaba's CEO Sets Out Ambitious Goals; Sees 2B Customers By 2036
In his first letter to shareholders, Alibaba's (BABA) CEO Daniel Zhang has set out a series of ambitious goals for the Chinese e-commerce giant.BABA's goal is to serve more than 1 billion consumers in China and facilitate more than RMB10 trillion of consumption on the company's platforms in the next five years as ‘we continue on the path of globalization'.Longer-term, Zhang wants BABA to serve 2 billion consumers globally, create 100 million jobs and provide the necessary infrastructure to support 10 million small businesses to become profitable on the company's platforms by 2036."We will continue to pursue our three strategic pillars of globalization, China domestic consumption and big data powered by cloud computing" the CEO said."Globalization is our long-term battle; Chinese domestic consumption is our cornerstone battle and big data powered by cloud computing is our battle for the future" he wrote.Zhang also pointed out that this year the company has migrated its core system onto the public cloud, paving the way to build a cloud-native infrastructure for the future, and held a secondary listing in Hong Kong."During this past fiscal year, despite the impact of the pandemic, Alibaba still delivered on a strategic goal that we had established five years ago, which was to surpass US$1 trillion in GMV. This was an important milestone for Alibaba, especially in the context of US$6 trillion in total annual retail sales of consumer goods in China today" Zhang wrote.The SEC filing also showed that B
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